Rep. Dave Camp, R-Mich.
House Ways and Means Committee Chairman Dave Camp today released a comprehensive tax overhaul that would eliminate biofuels tax credits along with oil and gas subsidies, Biomass Magazine reported today.

Brooke Coleman, executive director of the Advanced Ethanol Council, said the group would not support the treatment of the cellulosic and advanced ethanol industry, but said “Camp should be commended for taking tough positions on many of the most distortive oil and gas subsidies in the federal tax code.”

The American Soybean Association President Ray Gaesser, an Iowa farmer, said the soybean growers are “significantly concerned” about the elimination of the biodiesel tax credit, but praised Camp for tackling “the difficult task of tax reform.”

• Tax Reform Act of 2014 Discussion Draft
• — Section-by-Section Summary
• — Joint Committee on Taxation: Tax Reform
• Biomass — House tax proposal would alter biofuel, bioenergy tax credit